BP plc and Sempra Energy have announced plans to make a combined investment of $1 billion dollars to develop two wind farms.
Indiana Michigan Power (I&M), an operating company of American Electric Power Company (NYSE: AEP) (market cap $18.46 billion), said Friday it is adding 100 megawatts (MW) of wind power to its generation portfolio as part of a 20-year power purchase agreement (PPA) reached with E.ON Climate and Renewables.
BP plc (NYSE: BP) said today it has begun construction of the 150 megawatt (MW)Sherbino 2 Wind Farm in Pecos County, Texas. Sherbino 1, which came on line with 150 MW in 2008, was developed with NRG Energy, Inc. Future phases of Sherbino could push capacity to a total of 750 MW, according to BP’s website.
Australia has the fastest growing liquified natural gas (LNG) industry in the world and is on track to eclipse Qatar as the world’s largest producer by the end of the decade. It is, therefore, ideally positioned to fill much of the energy void in Japan if that country reduces its use of nuclear energy in the aftermath of the crisis at the Fukushima Daiichi nuclear plant.
Power technology company American Superconductor Corporation (Nasdaq: AMSC) said today it will acquire The Switch Engineering OY, based in Finland, for €190 million in cash and AMSC shares ($265.43 million at today’s 1.00 EUR = 1.40 USD).
OTHER NEWS: Solazyme Files IPO, BP Boosts Brazilian Ethanol Production
EnergyBoom’s Biofuel subindex (E•B Biofuel) increased 5.68 percent this week to beat the broad market indices and other green sector indices.
The subindex was led by Verenium Corporation (NASDAQ: VRNM) which increased 15.55 percent (-15.78 percent year-to-date) and Amyris, Inc. (NASDAQ: AMRS), which was up 12.56 percent (+43.62 percent since its initial public offering in late September).
Another week and another report on the prospects for commercial algae-based biofuels.
- Last week, research/marketing consulting firm Pike Research, based in Boulder, Colorado, predicted that 61 million gallons of algae-based biofuels per year at a market value of $1.3 billion ($21 a gallon) would be produced by 2020.
- On Tuesday, the Energy Biosciences Institute (EBI) in Berkeley, California, funded by BP plc (NYSE: BP), conjured a scenario in which algae-based oil could be produced at $5.71 to $7.86 per gallon.